Tri-Continental (NYSE:TY) Sees Large Volume Increase

Tri-Continental Co. (NYSE:TY) shares saw unusually-strong trading volume on Wednesday . Approximately 65,134 shares changed hands during mid-day trading, an increase of 75% from the previous session’s volume of 37,231 shares.The stock last traded at $30.70 and had previously closed at $30.83.

Tri-Continental Trading Down 0.6 %

The stock has a fifty day moving average of $30.38 and a 200 day moving average of $29.72.

Tri-Continental Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th were paid a dividend of $0.29 per share. This is a boost from Tri-Continental’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.78%.

Institutional Investors Weigh In On Tri-Continental

Several institutional investors and hedge funds have recently added to or reduced their stakes in TY. Allspring Global Investments Holdings LLC lifted its holdings in Tri-Continental by 27.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 567,088 shares of the investment management company’s stock valued at $16,349,000 after purchasing an additional 121,196 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Tri-Continental by 6.0% in the fourth quarter. Wells Fargo & Company MN now owns 269,748 shares of the investment management company’s stock valued at $7,777,000 after acquiring an additional 15,351 shares during the last quarter. International Assets Investment Management LLC lifted its position in Tri-Continental by 2,793.7% in the fourth quarter. International Assets Investment Management LLC now owns 200,793 shares of the investment management company’s stock valued at $5,789,000 after buying an additional 193,854 shares during the last quarter. Cornerstone Advisors LLC boosted its position in shares of Tri-Continental by 63.7% during the 1st quarter. Cornerstone Advisors LLC now owns 141,736 shares of the investment management company’s stock worth $4,365,000 after purchasing an additional 55,141 shares during the period. Finally, 1620 Investment Advisors Inc. boosted its position in shares of Tri-Continental by 1.5% during the fourth quarter. 1620 Investment Advisors Inc. now owns 87,228 shares of the investment management company’s stock worth $2,515,000 after buying an additional 1,302 shares during the period. Hedge funds and other institutional investors own 10.22% of the company’s stock.

About Tri-Continental

Tri-Continental Corporation is a closed ended equity mutual fund launched and managed by Columbia Management Investment Advisers, LLC. It primarily invests in the public equity markets of the United States. The fund invests in stocks of companies that operate across diversified sectors. It seeks to invest in stocks of large-cap companies.